FBLA Economics Exam Questions and
Answers 100% Pass
Monetary Policy - ✔✔An attempt to achieve broad economic goals by the regulation of
the supply of money.
Fiscal Policy - ✔✔a government policy for dealing with the budget (especially with
taxation and borrowing)
Factors of Production - ✔✔Factors of production fall into three main groups - land,
labor, and capital - and sometimes include entrepreneurship.
Law of Demand - ✔✔buyers purchase more at lower prices than higher prices
Wage - ✔✔Pay by the hour
Salary - ✔✔Pay by the week or month
Limited Liability - ✔✔A fundamental feature of corporations, whereby investors are
liable only up to the amount of their investment.
GDP: Gross Domestic Product - ✔✔The monetary value of all of a nation's goods and
services produced within a nation's borders and within a particular period of time, such
Katelyn Whitman, All Rights Reserved © 2025 1
Answers 100% Pass
Monetary Policy - ✔✔An attempt to achieve broad economic goals by the regulation of
the supply of money.
Fiscal Policy - ✔✔a government policy for dealing with the budget (especially with
taxation and borrowing)
Factors of Production - ✔✔Factors of production fall into three main groups - land,
labor, and capital - and sometimes include entrepreneurship.
Law of Demand - ✔✔buyers purchase more at lower prices than higher prices
Wage - ✔✔Pay by the hour
Salary - ✔✔Pay by the week or month
Limited Liability - ✔✔A fundamental feature of corporations, whereby investors are
liable only up to the amount of their investment.
GDP: Gross Domestic Product - ✔✔The monetary value of all of a nation's goods and
services produced within a nation's borders and within a particular period of time, such
Katelyn Whitman, All Rights Reserved © 2025 1
